
Rapper Wale currently in Nigeria!






“An operative of the Economic and Financial Crimes Commission, Abdulrahman Mohammed Biu, a Deputy Detective Superintendent, (DDS) has been arrested for offences bordering on extortion, influence peddling and impersonation. The officer was arrested on Monday following intelligence report alleging that he extorted a whopping sum of $150,000 from some military officers on the pretext that he would help give them a soft landing in the ongoing investigation into the arms deal scandal. Upon his arrest, a search was executed on his residence in Abuja where the following items were recovered: $20,000 cash, N500, 000 cash, two police uniforms bearing his name with the ranks of Deputy Superintendent and Assistant Superintendent, Police warrant card No: 27/2014 with the rank of DSP allegedly obtained from Kano Constabulary office, documents relating to military arms investigation and account information of several senior military officers. A search of his car parked in the premises yielded the following items: unbranded pistol with a magazine and 10 live ammunitions. His modus operandi includes dropping the names of ranking officers of the commission, claiming he was acting on their behalf. A paper containing seven of such names was recovered in his house. The suspect has made useful statement, while investigation continues.”.


“We refer to the above subject matter and enclose herewith a Zenith Bank draft no 08549695 for the sum of N9,000,000.00 (Nine million Naira only) being refund of the compensation paid by the Goodluck Jonathan government for the crude and illegal seizure of our newspapers over a period of 5 days by soldiers from the 6th of June to the 10th of June 2014 through the Newspapers Proprietors Association of Nigeria (NPAN). It will be recalled that this was the sum paid to all newspapers which incurred losses as a result of the act which was arrived at when President Jonathan pleaded for an out of court settlement. It has come to our notice that the chairman of Daily Trust, Malam Kabiru Yusuf who was acting president of NPAN/chairman of the meeting held at Mr. Sam Amuka’s guest house in Lagos in December 2015 where it was agreed, after a detailed analysis of the situation that NPAN and the newspapers committed no offence by the out of court settlement and therefore had no reason to refund the compensation, has gone behind the association’s back and directed the Daily Trust to refund money. After such a dishonourable act by the one person under whose direction members of the association all agreed that there would be no need to refund the money, it is our view that it is no longer tenable not to refund. This is particularly more discomforting when it is recalled that the decision to agree to the out of court settlement and compensation was taken at the Abuja office of Daily Trust with Kabiru Yusuf in attendance. It is for this reason that we are refunding the N9 million. But we will like to maintain the general position that neither the NPAN nor newspaper committed any offence. Our chairman has also made it clear that he does not see any situation where LEADERSHIP will be part of any group that will take the current government to court. Therefore we should be counted out of any future decision to seek redress in court on this same matter. After all it is not the government that asked us to refund, it is the treachery of some of our members. Kindly be advised accordingly.”



Today I have reached an agreement with the Spanish tax authorities, with a firm verdict agreed by all parties. Thus, with a resolution now for the legal matters and with the relief of having sorted my tax situation, I would like to make a brief statement.
After agreeing my move to Barcelona I contracted a specialist tax agency with well-known professionals that enjoy a great reputation. According to my situation they recommended me certain structures, all within the law, telling me that they were normal, transparent and accepted procedures.
I was assessed by these professionals from 2010 to 2014 I decided to change agency because of the proceedings I was facing, and with evidence that the problems may not be ‘potential’ but in fact very real. My new agency recommended that I pay the tax authorities the money they were claiming, presenting also a corrective payment.
Now, finally, after a long wait this agreement has arrived which allows me to relax again and go about my daily life.
I’m a professional sportsman and I don’t know a lot about legal and financial matters.
Therefore I must rely on the people that manage these technical, and for me, complicated, issues.
All my career I have been an honest and responsible person… I will take this experience that has accosted me as another experience which I will leave stronger and calmed by the fact that I am once again within the law.





“I only have one fear. It is that I just hope that the next time we send invitations out, that players won’t start refusing to play for Nigeria. That is something that is scary but it is real. We have to start thinking because we’re not going to work miracles anymore. I’m just afraid that if we don’t put our acts in order we might invite players for the next qualifications and may be some players (might not come); I’m afraid. Already I’m getting phone calls from them, you they’re still asking what they’re being owed.”




"In the eight months since Mr Buhari arrived at Aso Rock, the presidential digs, the homicidal jihadists of Boko Haram have been pushed back into the bush along Nigeria’s borders. The government has cracked down on corruption, which had flourished under the previous president, Goodluck Jonathan, an ineffectual buffoon who let politicians and their cronies fill their pockets with impunity. Lai Mohammed, a minister, reckons that just 55 people stole $6.8 billion from the public purse over seven recent years."- Read the full article here

“Amaechi left the most abandoned projects in the history of Rivers State since 1997. Thousands of workers were without their salaries for four months and thousands of teachers were not paid for nearly 12 months. We have so many abandoned projects which huge sums have been paid but projects are yet to be completed. We have the Mono-rail project that gulped over N60bn and it was abandoned. We have the Woji road project awarded at N3bn. There was a variation of the project to the upward of N14bn but it was abandoned. We inherited the project and completed it. There are so many of the abandoned projects. We have the Karibi George 250 bed project where huge sums of money were paid but no single block was laid at the site” he said.The commissioner said the Wike-led government will explore legal means that will help compel those who looted the state treasury to face the law and be punished accordingly.

Give me lucky generals,” Napoleon is supposed to have said, preferring them to talented ones. Muhammadu Buhari, a former general, has not had much luck when it comes to the oil price. Between 1983 and 1985 he was Nigeria’s military ruler. Just before he took over, oil prices began a lengthy collapse; the country’s export earnings fell by more than half.
The economy went into a deep recession and Mr Buhari, unable to cope, was overthrown in a coup. Now he is president again. (He won a fair election last year against a woeful opponent; The Economist endorsed him.) And once again, oil prices have slumped, from $64 a barrel on the day he was sworn in to $32 eight months later. Growth probably fell by half in 2015, from 6.3% to little more than 3% (see article).
Oil accounts for 70% of the government’s revenues and 95% of export earnings. The government deficit will widen this year to about 3.5% of GDP. The currency, the naira, is under pressure. The central bank insists on an exchange rate of 197-199 naira to the dollar. On the black market, dollars sell for 300 naira or more. Instead of letting the naira depreciate to reflect the country’s loss of purchasing power, Mr Buhari’s government is trying to keep it aloft.
The central bank has restricted the supply of dollars and banned the import of a long list of goods, from shovels and rice to toothpicks. It hopes that this will maintain reserves and stimulate domestic production. When the currency is devalued, all imports become more expensive.
But under Mr Buhari’s system the restrictions on imports are by government fiat. Factory bosses complain they cannot import raw materials such as chemicals and fret that, if this continues, they may have to shut down. Many have turned to the black market to obtain dollars, and are doubtless smuggling in some of the goods that have been banned. Nigerians have heard this tune before. Indeed, Mr Buhari tried something similar the last time he was president. Then, as now, he resisted what he called the “bitter pill” of devaluation.
When, as a result, foreign currency ran short, he rationed it and slashed imports by more than half. When Nigerians turned to the black market he sealed the country’s borders. When unemployment surged he expelled 700,000 migrants. Barking orders at markets did not work then, and it will not work now. Mr Buhari is right that devaluation will lead to inflation—as it has in other commodity exporters. But Nigeria’s policy of limiting imports and creating scarcity will be even more inflationary. A weaker currency would spur domestic production more than import bans can and, in the long run, hurt consumers less.
The country needs foreign capital to finance its deficits but, under today’s policies, it will struggle to get any. Foreign investors assume that any Nigerian asset they buy in naira now will cost less later, after the currency has devalued. So they wait. Those who fail to learn from history... Mr Buhari’s tenure has in some ways been impressive. He has restored a semblance of security to swathes of northern Nigeria that were overrun by schoolgirl-abducting jihadists. He has won some early battles against corruption. Some of his economic policies are sound, too. He has indicated that he will stop subsidising fuel and selling it at below-market prices.
This is brave, since the subsidies are popular, even though they have been a disaster (the cheap fuel was often sold abroad and petrol stations frequently ran dry). If Mr Buhari can find the courage to let fuel cost what the market says it should, why not the currency, too? You can forgive the general for being unlucky; but not for failing to learn from past mistakes.